Bitcoin Poised for Historic Sideways Movement, Focus Shifts to November Elections as Potential Bullish Trigger

With fewer new bitcoins entering the market, prices have a tendency to increase as long as demand remains steady or rises. Bitcoin (BTC) surged above $73,000 to reach new all-time highs prior to the April 14 halving event, with some predicting a potential continued rally up to $160,000 by the end of the year. However, prices have mostly fluctuated within the $59,000 to $65,000 range since then, approaching a record 300-day period of sideways movement similar to that seen in 2016.